Showing 1 - 10 of 5,712
form of investment cycles. These quasi-periodic movements can be represented as low order, stochastic, dynamic processes … with complex eigenvalues. Specifically, there is a fixed investment cycle of about 8 years and an inventory cycle of about … adjustment costs both in relation to the capital stock and the rate of investment. By means of parametric resonance it was …
Persistent link: https://www.econbiz.de/10010440436
shock. Our estimated model uncovers a central role for investment in the transmission mechanism of monetary policy, as high … MPCs amplify the investment response in the data. This force also generates a procyclical response of consumption to … investment shocks, leading our model to infer a central role for these shocks as a source of business cycles. …
Persistent link: https://www.econbiz.de/10012154622
on that firm's investment decisions. Ordered probit estimation results show that if a firm makes more expectation errors … -faces more uncertainty- it is more likely to defer investment plans even after controlling the aggregate uncertainty …
Persistent link: https://www.econbiz.de/10014187371
. Furthermore, investment-specific productivity shocks drove nearly half of the rapid growth in household durable expenditures … during the 2000s. Nonetheless, they have small influence over output dynamics, because unlike business investment goods …
Persistent link: https://www.econbiz.de/10014048821
at times generate large movements in total investment demand. In this study, I re-assess these predictions in a general … yielding lumpy plant-level investment within an otherwise standard equilibrium business cycle model. In contrast to previous … partial equilibrium analyses, model results reveal that the aggregate effects of lumpy investment are negligible. In general …
Persistent link: https://www.econbiz.de/10014216133
embodied technology, investment irreversibility, and variable capacity utilization. Low short-run capital …
Persistent link: https://www.econbiz.de/10014217959
This paper derives an optimal investment function that combines Tobin's q with Goodwin's nonlinear accelerator. It … provides microfoundations to the backward looking behavior of investment in Goodwin's model, and simultaneously allows the …
Persistent link: https://www.econbiz.de/10014154315
This paper develops a new theoretical framework, introducing into the traditional real business cycle model a second sector, which we interpret as representing the underground economy. We find that a model with an underground sector is quite successful in matching the stylized facts of the...
Persistent link: https://www.econbiz.de/10014124269
crisis. Residential investment is a form of real estate investment that constitutes one of the world most valuable assets due … to its durability. Housing investment is an important component of household wealth. There are a lot of factors that … affect the demand and supply of housing investment. We investigate the correlation between housing dynamics and the business …
Persistent link: https://www.econbiz.de/10012950450
stable and almost uncorrelated with the business cycle; and (ii) residential investment leads the business cycle while … nonresidential investment moves contemporaneously with the business cycle …
Persistent link: https://www.econbiz.de/10012950473